Traders Sell General Electric Company (GE) on Strength (GE)
Traders sold shares of General Electric Company (NYSE:GE) on strength during trading on Monday. $223.81 million flowed into the stock on the tick-up and $272.99 million flowed out of the stock on the tick-down, for a money net flow of $49.18 million out of the stock. Of all equities tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.03 for the day and closed at $17.98
GE has been the topic of several analyst reports. Argus lowered their target price on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research report on Wednesday, September 13th. UBS AG restated a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus lowered their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $24.49.
The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $154,620.00, a price-to-earnings ratio of 14.50, a PEG ratio of 1.96 and a beta of 1.11.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. analysts predict that General Electric Company will post 1.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were issued a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.32%. General Electric’s payout ratio is 111.63%.
In related news, Director Steven M. Mollenkopf bought 5,500 shares of the stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now directly owns 5,500 shares in the company, valued at $100,320. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the stock in a transaction on Monday, November 20th. The shares were bought at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased 120,500 shares of company stock valued at $2,183,220 in the last quarter. 0.36% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital World Investors lifted its holdings in shares of General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after purchasing an additional 11,194,678 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. Institutional investors own 54.75% of the company’s stock.
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